President Donald Trump Officially Nominates Travis Hill to Lead FDIC
Washington D.C. - President Donald Trump formally nominated Acting Chairman Travis Hill to lead the Federal Deposit Insurance Corporation (FDIC) permanently on October 1, 2025.
Hill, who has been serving as acting chairman since [date], will now face a Senate confirmation process to secure the role. The nomination comes after months of speculation about his future at the agency. "I am honored by President Trump's confidence in me and look forward to continuing our work on behalf of American consumers," Hill said in a statement.
The FDIC, which insures deposits up to $250,000 per account holder, has been under scrutiny for its handling of the "debanking" trend that affected crypto businesses. Hill has been a vocal critic of this practice, arguing it hampers innovation and hurts small businesses.
Supporters of Hill's nomination point to his experience in banking regulation and his commitment to protecting consumers. "Travis Hill is an excellent choice for FDIC chairman," said Senator Tom Cotton (R-Ark.). "He understands the importance of sound banking practices and has been a strong advocate for American businesses."
However, some critics argue that Hill's views on crypto policies may not align with the needs of the industry. "While we appreciate Chairman Hill's efforts to address debanking, his stance on crypto regulations is concerning," said Senator Elizabeth Warren (D-Mass.). "We need someone who will prioritize consumer protection and financial stability."
Background context: The FDIC has been at the forefront of banking regulation since its establishment in 1933. Its chairman plays a crucial role in shaping policies that impact the entire financial sector.
The nomination process is expected to be contentious, with Hill's confirmation hearings likely to focus on his views on crypto regulations and debanking practices. If confirmed, he will become one of the most influential figures in banking regulation, overseeing an agency responsible for insuring over 5,000 banks and thrifts across the United States.
The Senate Banking Committee has yet to schedule a hearing on Hill's nomination. A confirmation vote is expected to take place later this year.
*Reporting by Coindesk.*
